Short Interest in Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) Increases By 7.6%

Elite Pharmaceuticals, Inc. (OTCMKTS:ELTP) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,717,700 shares, an increase of 7.6% from the November 30th total of 2,526,500 shares. Based on an average daily volume of 3,098,300 shares, the short-interest ratio is currently 0.9 days.

Elite Pharmaceuticals Stock Down 3.4 %

ELTP stock traded down $0.02 on Wednesday, reaching $0.54. 759,559 shares of the company traded hands, compared to its average volume of 1,663,525. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.52 and a quick ratio of 2.42. The firm has a fifty day simple moving average of $0.56 and a 200-day simple moving average of $0.38. Elite Pharmaceuticals has a one year low of $0.12 and a one year high of $0.75. The company has a market cap of $578.04 million, a P/E ratio of -54.11 and a beta of 0.25.

Elite Pharmaceuticals Company Profile

Elite Pharmaceuticals, Inc, a specialty pharmaceutical company, engages in the development, manufacture, and sale of oral, controlled-release products, and generic pharmaceuticals. The company operates in two segments, Abbreviated New Drug Applications for Generic Pharmaceuticals and New Drug Applications for Branded Pharmaceuticals.